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Ultimately, your economy has to be measured in the real eyes of real people, not simply in statistics that appear in newspapers about the unemployment rate and so forth.

History teaches that the level of unemployment is not as important as whether the rate's going down.

In addition to joblessness, of course, by the working of supply and demand, when you have a larger number of people unemployed, wages do not rise at the normal level, so that we had last year a drop in real wages.

I think no one has ever been re-elected with unemployment over 7.6 percent.

Certainly, 9 percent unemployment and very slow growth is not a good situation.

There will not be an automatic increase in interest rate when unemployment hits 6.5%.

No president has ever been elected with unemployment over 8 percent.

Unemployment is 'involuntary' when the price is above its market clearing level. Workers are unemployed because jobs are not available at the prevailing wages, period. The only recourse is to either expand the number of jobs or somehow lower the wage.

You can make more money on unemployment than you can going down and getting one of those jobs that is an honest job, but it doesn't pay as much. And so, that's what's happened to us is that we have put in so much entitlement into our government, that we really have spoiled our citizenry and said you don't want the jobs that are available.